Business Development Manager – Bancassurance at CIC Insurance

About the Role

Reporting to the Head of Retail Sales, the role holder will generate revenue through the distribution of retail life products in the alternative channels i.e. banks, saccos, brokers and independent agents and to develop a model that will maximize retail life business acquisition from the partners.

Key Responsibilities

Partnership Development

• Identify, engage and onboard strategic partners (co-operatives, banks, MFIs, Brokers and independent agents)
• Negotiate and manage contracts with partners
• Conduct regular reviews with key partners to ensure mutual value creation
• Sponsorships, review and recommend
• Recommend a decision or action-Through market intelligence in collaboration with partners give recommendation towards enhancing and growth of partnerships.

Sales and distribution management

• Build and maintain a professionally trained salesforce according to the channel`s manpower target.
• Oversee sales team productivity to meet and exceed retail life targets
• Participate in Develop targets

Recruitment & Resource management

• Actively participate in recruitment and training of assistant regional managers alternative channels team leaders and sales officers

Channel innovation and expansion

• Monitor and optimize channel performance through market intelligence and constant engagement with partners
• Feed product development on areas of product development as per the partners needs

Training and capacity building

• Train and educate partners (co-operatives, banks, MFIs, brokers and independent agents) to build retail life knowledge for better collaboration through morning hurdles and other organized meetings.

Monitoring, evaluation and compliance

• Provide sales reports, partner impact and risk areas.
• Ensure the sales team Strictly adhere to all regulations, standards, practices and all internal sales processes and procedures as set out by the company and comply with all relevant external legislation and regulations with regard to Compliance requirements.

Budgeting

• Performance incentives
• Expense approvals

Who We’re Looking For

Essential Knowledge/Skills and Experience Required:

• Bachelors degree in a related filed (Commerce, Insurance, Economics etc)
• Certificate of Proficiency
• Diploma in Insurance/LOMA
• Minimum of 7 years of relevant experience with 4 years in supervisory capacity.